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Bankruptcy Reform Archives

What has and has not worked in bankruptcy reform?

It has been a while since bankruptcy laws have been reformed. This has provided enough time to analyze how the changes in the laws have worked out. Before filing for bankruptcy in Florida, you may want to look at what has worked and what has not worked with these new bankruptcy laws.

Is it possible to get rid of students loans through bankruptcy?

If you are like many people in Florida, you have student loan debt. It is probably quite a large amount, too. If you are struggling financially, you may have even considered bankruptcy to relieve you of your debt. However, you were probably made aware that you cannot discharge student loan debt in a bankruptcy. While this is true for most people, you may be in the minority who can discharge student loans in bankruptcy. 

What is the means test?

When you hear about bankruptcy in Florida, one of the main things brought up is the means test. This is a very important aspect of qualifying to file for bankruptcy. It is a two part test that takes a look at your income and expenses to determine which type of bankruptcy you can file, according to Nerd Wallet.

Bankruptcy myths revealed

When facing financial troubles, many people look to bankruptcy. This is a complicated legal process that can often be confusing. People may have many ideas about filing bankruptcy in Florida that simply are not true. These myths seem to be quite persistent, and if people are to get the most benefit from the process, they need to separate the facts from the myths.

What does the president's budget proposal have to say about bankruptcy?

It perhaps wouldn't come as too much of a surprise to learn that bankruptcy reform has not exactly emerged as a hot-button issue on Capitol Hill over the last few months. Indeed, both Congress and the Trump Administration have been more than occupied by debates concerning everything from immigration and health care to the longstanding Supreme Court vacancy.

Is bankruptcy becoming more of an option for those dealing with student loans?

As we've discussed on our blog, those people looking to eliminate their private student loan debt in bankruptcy face a very real challenge. That's because the U.S. Bankruptcy Code dictates that no discharge can be granted for a loan made for an "educational benefit" absent a showing of undue hardship.

Should an undue hardship be considered 'unjust' or 'excessive?'

Thanks to the skyrocketing costs of both college and graduate school, the monthly ritual of submitting a student loan payment has become increasingly exasperating for some, fiscally painful for others and a near impossibility for far too many.

Is the way bankruptcy courts treat student loan debt going to change? - II

In our last post, we began discussing how people of all ages here in the U.S. are having difficulties with student loan debt. Indeed, statistics from the Consumer Financial Protection Bureau reveal that as many as one out of every four borrowers are either having trouble making their monthly payments or are in default.

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